CREDITS FOR AFRICA

As the world’s attention turns toward the opening of the Bali summit on climate change, Guyana President Bharrat Jagdeo articulated one of the world’s biggest challenges about as perfectly as anybody ever has: "Cut down a forest, and you get money. But if you don't cut it down then there is no money for you."

As things stand, nations with precious and disappearing tropical forests can earn money several ways by sacrificing them. The wood is valued. Waste can be recycled as biomass or made into charcoal. The cleared land can be replanted with biofuel crops.

Why not?

Because the forests act as carbon sinks and thereby protect the earth’s atmosphere from further ravages by greenhouse gases (GHGs)? There’s no money in that.

The UNFCCC and other institutions that certify GHG-cutting projects for trading in carbon markets have so far been reluctant to consider deforestation because it is subject to abuse. Credits could be sold for protecting forests never really in danger. Or credits could be sold for forests that are cut anyway.

But if the world is serious about counteracting climate change, it must stop the destruction of the forests by giving the nations that own them carbon credits that can be sold on the world cap-and-trade markets for more than can be earned from deforestation.

Africa: Call for Carbon Credits
23 November 2007 (Commonwealth News and Information Service via AllAfrica)

WHO
Africa’s Commonwealth Business Council (CBC); James Mulwana, chairperson, CBC; Mohan Kaul, Director-General/Chief Executive, CBC; CBC Steering Committee; Guyana President Bharrat Jagdeo

A defineable, exhaustible resource. (click to enlarge)

WHAT
President Jagdeo called for allowing nations to earn “carbon credits” for NOT cutting down precious forests.

WHEN
- President Jagdeo’s call came November 22 at the closing of the continent-wide CBC forum.
- The call anticipates a major topic of the upcoming early December international convocation in Bali, Indonesia on climate change at which many world leaders will wrestle with the dilemma.

WHERE
Ugandan President Yoweri Kaguta Museveni, Paul Kagame of Rwanda, Umaru Yar'Adua of Nigeria and Jakaya Kikwete of Tanzania also spoke at the CBC forum.

WHY
- CBC forum theme: 'The Commonwealth: Untapped potential, transforming societies through economic empowerment building partnerships with east Africa and the global economy'
- Jagdeo stressed the need for consensus among CBC leaders, the marketplace and popular sentiment.
- Council chair Mulwana called for cooperation among members.
- CBC director Kaul described recommendations in a soon-to-be-released Commonwealth report. Besides measures to improve trans-African trade, transportation and health, the report will advocate a Commonwealth Carbon Trust to facilitate climate change measures.

There should be a slice for preventing slicing the forests away.

QUOTES
Guyana President Jagdeo: "As Heads of state, we often implement policies based on technical advice. It would be good to see policies based on feedback from the private sector and civil society too…"